New York Laws
Part 8 - Rule Against Perpetuities and Accumulations as Affected by Powers of Appointment
10-8.4 - Rule Against Accumulations; Law Determining Validity in Exercise of a Power of Appointment

exercise of a power of appointment

When a direction for the accumulation of income is contained in an
instrument exercising a power, heretofore or hereafter created, the
validity of such direction is determined by the law in effect when the
power is exercised, and not by the law in effect when the power was
created.

Structure New York Laws